StockNews.com Upgrades Tetra Tech (NASDAQ:TTEK) to “Buy”

Tetra Tech (NASDAQ:TTEK) was upgraded by research analysts at StockNews.com from a “hold” rating to a “buy” rating in a research report issued on Tuesday.

TTEK has been the subject of several other research reports. Robert W. Baird lifted their price target on Tetra Tech from $44.60 to $46.00 and gave the stock a “neutral” rating in a research note on Thursday, August 1st. Royal Bank of Canada lifted their price target on Tetra Tech from $46.60 to $51.80 and gave the stock an “outperform” rating in a research note on Friday, August 2nd. Finally, KeyCorp lifted their price target on Tetra Tech from $49.00 to $56.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 8th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $50.48.

Tetra Tech Price Performance

NASDAQ:TTEK opened at $48.86 on Tuesday. The firm has a market capitalization of $2.61 billion, a price-to-earnings ratio of 9.99 and a beta of 0.94. Tetra Tech has a 52-week low of $28.67 and a 52-week high of $50.03. The stock has a fifty day moving average of $46.90 and a 200 day moving average of $42.98. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.21 and a current ratio of 1.21.

Tetra Tech (NASDAQ:TTEK) last posted its quarterly earnings data on Wednesday, July 31st. The industrial products company reported $0.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.31 by $0.01. The company had revenue of $1.34 billion during the quarter, compared to analyst estimates of $1.08 billion. Tetra Tech had a return on equity of 21.50% and a net margin of 5.72%. The firm’s quarterly revenue was up 10.7% on a year-over-year basis. During the same quarter last year, the company earned $0.26 earnings per share. On average, research analysts expect that Tetra Tech will post 1.25 EPS for the current fiscal year.

Insider Transactions at Tetra Tech

In other news, SVP Preston Hopson III sold 25,000 shares of Tetra Tech stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $46.61, for a total value of $1,165,350.00. Following the transaction, the senior vice president now owns 43,710 shares in the company, valued at approximately $2,037,497.94. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CEO Dan L. Batrack sold 89,620 shares of the business’s stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $45.54, for a total transaction of $4,081,653.28. Following the transaction, the chief executive officer now owns 124,380 shares in the company, valued at $5,664,762.72. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Preston Hopson III sold 25,000 shares of the business’s stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $46.61, for a total value of $1,165,350.00. Following the transaction, the senior vice president now owns 43,710 shares in the company, valued at approximately $2,037,497.94. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 236,370 shares of company stock worth $10,880,243. Company insiders own 0.61% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of TTEK. Creekmur Asset Management LLC purchased a new position in shares of Tetra Tech during the 4th quarter worth approximately $38,000. HighPoint Advisor Group LLC purchased a new position in shares of Tetra Tech during the 4th quarter worth approximately $686,000. Los Angeles Capital Management LLC grew its holdings in shares of Tetra Tech by 39.3% during the 1st quarter. Los Angeles Capital Management LLC now owns 66,585 shares of the industrial products company’s stock worth $12,299,000 after acquiring an additional 18,794 shares during the period. GAMMA Investing LLC grew its holdings in shares of Tetra Tech by 25.8% during the 1st quarter. GAMMA Investing LLC now owns 302 shares of the industrial products company’s stock worth $56,000 after acquiring an additional 62 shares during the period. Finally, Bath Savings Trust Co purchased a new position in shares of Tetra Tech during the 1st quarter worth approximately $202,000. Hedge funds and other institutional investors own 93.89% of the company’s stock.

Tetra Tech Company Profile

Tetra Tech, Inc provides consulting and engineering services in the United States and internationally. The company operates through two segments, Government Services Group (GSG) and Commercial/International Services Group (CIG). The GSG segment offers early data collection and monitoring, data analysis and information management, science and engineering applied research, engineering design, project management, and operations and maintenance services; and climate change and energy management consulting, as well as greenhouse gas inventory assessment, certification, reduction, and management services.